Bitcoin: BTC Could Turn Bullish Near Term (December 2019)
- 4 years ago
Bitcoin: BTC Could Turn Bullish Near Term (December 2019)
Bitcoin bulls have yet to back down. We can see on the 4H chart for BTC/USD that the price is holding strong above $7,000. This is a level that has not been breached despite numerous attempts in the recent past. It appears that BTC/USD might yet see some bullishness short term before the major downtrend kicks in. If the falling wedge plays out and the price breaks to the upside, this would be more than mere short-term bullishness. In fact, it could lead to a major pump that would obliterate the bears and encourage retail bulls to be more optimistic which is exactly what the market makers and the whales need before the beginning of the next decline.
Bitcoin bulls have yet to back down. We can see on the 4H chart for BTC/USD that the price is holding strong above $7,000. This is a level that has not been breached despite numerous attempts in the recent past. It appears that BTC/USD might yet see some bullishness short term before the major downtrend kicks in. If the falling wedge plays out and the price breaks to the upside, this would be more than mere short-term bullishness. In fact, it could lead to a major pump that would obliterate the bears and encourage retail bulls to be more optimistic which is exactly what the market makers and the whales need before the beginning of the next decline.